Canadian home sales fell sharply from January to February, as home buyers remained on the sidelines in the first full month of the ongoing trade war with the United States.

The Bank of Canada cut its overnight rate by 25 basis points to 2.75%, its seventh straight cut. While expected, the move comes as the Bank tries to navigate economic uncertainty and the fallout from U.S. trade tensions.

Canada’s banking regulator has flagged mortgage payment shocks as a significant risk to the country’s financial stability, citing the large volume of mortgages set for renewal in the coming years.